Question 1

The knowledge and skills possessed by the workforce is known as

Accepted Answer

A) Human finance. 
B) Investment capital. 
C) Human capital. 
D) The inequality trap. 
A) Human finance. 
B) Investment capital. 
C) Human capital. 
D) The inequality trap. C

Question 2

What is human capital,and what factors contribute to human capital development?

Accepted Answer

Human capital refers to the knowledge and skills possessed by the workforce.Education and training add to human capital and make people more productive.Basic health care also allows workers to become more productive.This includes access to clean water,adequate sanitation,and immunizations against common diseases plus the availability of health care professionals.

Question 3

The official U.S.poverty standard was set in 1963 at $3,000 per year for a family of four.

Accepted Answer

A) True 
 B)False  True

Question 4

Since 1990 the highest economic growth rates in the world have occurred in

Accepted Answer

A) The United States. 
B) China. 
C) India. 
D) Nigeria. 
A) The United States. 
B) China. 
C) India. 
D) Nigeria.

Question 5

The Millennium Poverty Goal is the United Nations' goal of reducing the global rate of extreme poverty to ________ percent by 2015.

Accepted Answer

A) 15 
B) 10 
C) 5 
D) 0 
A) 15 
B) 10 
C) 5 
D) 0

Question 6

In general,countries with well-defined property rights,less government regulation,and lower taxes have

Accepted Answer

A) More corruption and crime. 
B) Higher per capita incomes. 
C) Higher rates of economic growth for the entire population. 
D) Higher rates of investment. 
A) More corruption and crime. 
B) Higher per capita incomes. 
C) Higher rates of economic growth for the entire population. 
D) Higher rates of investment.

Question 7

The developing world has been adamant that rich nations abandon farm subsidies in order to get a global trade deal both sides say they want.

Accepted Answer

A) True 
 B)False

Question 8

If women are prohibited or discouraged from attending school but men are allowed to attend,this is an example of

Accepted Answer

A) An inequality trap. 
B) A human capital gap. 
C) A gender gap. 
D) A redistribution of capital. 
A) An inequality trap. 
B) A human capital gap. 
C) A gender gap. 
D) A redistribution of capital.

Question 9

In his book The Other Path,de Soto suggests that the key to economic development is

Accepted Answer

A) Entrepreneurship and market forces. 
B) Government control of resources. 
C) Transactions within the "official" economy. 
D) Limiting capitalism and profit takers. 
A) Entrepreneurship and market forces. 
B) Government control of resources. 
C) Transactions within the "official" economy. 
D) Limiting capitalism and profit takers.

Question 10

Output per labor-hour is used to measure the ________ of labor.

Accepted Answer

A) effort 
B) intelligence 
C) productivity 
D) seriousness 
A) effort 
B) intelligence 
C) productivity 
D) seriousness

Question 11

The U.N.'s Millennium Aid Goal focuses on aid in the form of

Accepted Answer

A) Money from rich donor countries. 
B) Money from nongovernmental organizations. 
C) Redistributions within poor countries. 
D) A loan from the United Nations. 
A) Money from rich donor countries. 
B) Money from nongovernmental organizations. 
C) Redistributions within poor countries. 
D) A loan from the United Nations.

Question 12

Which of the following explains why the U.S.poverty threshold increased from $3,000 per year in 1963 to $25,000 per year in 2017?

Accepted Answer

A) Americans are more spoiled now than they were in 1963. 
B) The threshold includes more luxury items now than it did in 1963. 
C) Inflation has caused the price for basic necessities to increase since 1963. 
D) The government has become more benevolent than it was in 1963. 
A) Americans are more spoiled now than they were in 1963. 
B) The threshold includes more luxury items now than it did in 1963. 
C) Inflation has caused the price for basic necessities to increase since 1963. 
D) The government has become more benevolent than it was in 1963.

Question 13

The general approaches to global poverty reduction include all of the following except

Accepted Answer

A) Economic growth that raises average incomes. 
B) Redistribution of incomes across nations. 
C) Redistribution of incomes within countries. 
D) An increase in government control of resources. 
A) Economic growth that raises average incomes. 
B) Redistribution of incomes across nations. 
C) Redistribution of incomes within countries. 
D) An increase in government control of resources.

Question 14

The World Bank defines severe poverty as

Accepted Answer

A) An income level of less than $1.25 per person per day. 
B) An income level of less than $3.10 per person per day. 
C) An income level that does not allow an individual to buy basic necessities. 
D) An extreme lack of food. 
A) An income level of less than $1.25 per person per day. 
B) An income level of less than $3.10 per person per day. 
C) An income level that does not allow an individual to buy basic necessities. 
D) An extreme lack of food.

Question 15

Which of the following is associated with global poverty?

Accepted Answer

A) Lack of health care. 
B) Immunization against preventable diseases. 
C) Low infant mortality rates. 
D) Opportunities for education. 
A) Lack of health care. 
B) Immunization against preventable diseases. 
C) Low infant mortality rates. 
D) Opportunities for education.

Question 16

Which of the following will not increase the opportunity for internal financing of capital?

Accepted Answer

A) Improved banking facilities. 
B) Saving incentives. 
C) Seizing of private banks by the government. 
D) Transparent capital markets. 
A) Improved banking facilities. 
B) Saving incentives. 
C) Seizing of private banks by the government. 
D) Transparent capital markets.

Question 17

Poverty is considered to be more permanent in the United States than it is in other nations.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following statements is true concerning comparative advantage?

Accepted Answer

A) Poor nations typically have a comparative advantage in high-tech but not agricultural goods. 
B) Poor nations typically have a comparative advantage in agricultural but not high-tech goods. 
C) Poor nations typically have a comparative advantage in the production of all goods. 
D) Rich nations typically have a comparative advantage in the production of all goods. 
A) Poor nations typically have a comparative advantage in high-tech but not agricultural goods. 
B) Poor nations typically have a comparative advantage in agricultural but not high-tech goods. 
C) Poor nations typically have a comparative advantage in the production of all goods. 
D) Rich nations typically have a comparative advantage in the production of all goods.

Question 19

The direct transfer of goods and services rather than cash is known as

Accepted Answer

A) In-kind transfers. 
B) Transfer payments. 
C) Welfare income. 
D) Poverty support. 
A) In-kind transfers. 
B) Transfer payments. 
C) Welfare income. 
D) Poverty support.

Question 20

Which of the following does not contribute to low farm productivity in poor nations?

Accepted Answer

A) Lack of effort. 
B) Inferior technology. 
C) Lack of machinery. 
D) Limited infrastructure. 
A) Lack of effort. 
B) Inferior technology. 
C) Lack of machinery. 
D) Limited infrastructure.

Exam 37: Global Poverty

The knowledge and skills possessed by the workforce is known as

What is human capital,and what factors contribute to human capital development?

The official U.S.poverty standard was set in 1963 at $3,000 per year for a family of four.

Since 1990 the highest economic growth rates in the world have occurred in

The Millennium Poverty Goal is the United Nations' goal of reducing the global rate of extreme poverty to ________ percent by 2015.

In general,countries with well-defined property rights,less government regulation,and lower taxes have

The developing world has been adamant that rich nations abandon farm subsidies in order to get a global trade deal both sides say they want.

If women are prohibited or discouraged from attending school but men are allowed to attend,this is an example of

In his book The Other Path,de Soto suggests that the key to economic development is

Output per labor-hour is used to measure the ________ of labor.

The U.N.'s Millennium Aid Goal focuses on aid in the form of

Which of the following explains why the U.S.poverty threshold increased from $3,000 per year in 1963 to $25,000 per year in 2017?

The general approaches to global poverty reduction include all of the following except

The World Bank defines severe poverty as

Which of the following is associated with global poverty?

Which of the following will not increase the opportunity for internal financing of capital?

Poverty is considered to be more permanent in the United States than it is in other nations.

Which of the following statements is true concerning comparative advantage?

The direct transfer of goods and services rather than cash is known as

Which of the following does not contribute to low farm productivity in poor nations?

Economics: the Core Issues

The Useconomy: a Global View

Supply and Demand

The Role of Government

National Income Accounting

Unemployment

Inflation

The Business Cycle

Aggregate Demand

Self-Adjustment or Instability

Fiscal Policy

Deficits and Debt

Money and Banks

The Federal Reserve System

Monetary Policy

Supply-Side Policy: Short-Run Options

Growth and Productivity: Long-Run Possibilities

Theory Versus Reality

Consumer Choice

Elasticity

The Costs of Production

The Competitive Firm

Competitive Markets

Monopoly

Oligopoly

Monopolistic Competition

Natural Monopolies: Deregulation

Environmental Protection

The Farm Problem

The Labor Market

Labor Unions

Financial Markets

Taxes: Equity Versus Efficiency

Transfer Payments: Welfare and Social Security

International Trade

International Finance

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